RENDER jump 17% reach 5-month high as AI demand dey push volume
RENDER rise 17.06% go near $2.35, hit five-month high around $2.403 before small pullback. The move come because demand for AI infrastructure strong, trading volume jump 294% to about $245M.
On-chain use too improve. Active addresses increase to 394 and new wallet creation reach 118, both 12-week highs. Derivatives activity follow: CoinGlass data show open interest up 62.7% to $125.2M and derivatives volume up 166% to $364M, meaning new leveraged positions.
Market structure turn bullish for futures. Long/Short Ratio climb to 1.8 (about 64% longs), and momentum signals remain supportive (RSI at 74; Momentum Index at 0.5). But profit-taking risk dey rise: MVRV Long/Short Difference drop to -40% (monthly low), while spot netflow still positive but outflows increase.
For traders, near-term decision zone dey around current resistance. If RENDER keep momentum, e fit target ~$2.7 then ~$3. Rejection near current levels increase risk of drop toward ~$1.8.
Bullish
RENDER rally dey backed by both demand signals (AI infrastructure story) and market participation (spot volume don surge, more active addresses and new wallets, and sharp rise for derivatives open interest/volume). Futures positioning don shift clearly bullish (Long/Short Ratio > 1 and majority longs). Even though overbought momentum and weakening MVRV profitability metrics raise pullback risk, overall flow and positioning show say buyers still get control of the near-term trend unless price get rejection around resistance.